POWERS PROPOSED

Wairarapa Times-Age, 16 September 1942, Page 2

POWERS PROPOSED

IN CAMPAIGN AGAINST INFLATION BILL BEFORE UNITED STATES SENATE. PLANS FOR POST-WAR ECONOMY (By Telegraph—Press Association—Copyright) WASHINGTON, September 14. Legislation specifically authorising President Roosevelt to stabilise wages and salaries from August 15 and farm prices ait levels not below parity, were (introduced in the Senate by Senators Wagner and Brown in response to President Roosevelt’s message to Congress on September 7. The Bill provides that the price ceiling shall not be fixed below the higher of the two following alternatives:—First, the parity price or a comparable price, where one has been determined; secondly, the highest market price between January 1 and September 15, 1942. Congressional leaders hammered out the details of the anti-inflation legislation, granting the President broad but not blanket authority to stabilise wages and farm prices.

Reporting this, the Washington correspondent of the “Herald-Tribune” says the plan places a definite but as yet undecided time limit on the President’s exercise of his powers. The leaders also agreed to additional legislation necessary to regulate wages and prices after the war in order to control postwar economy.

Senator Alben W. Barkley, the Senate majority leader, explained that the legislation would set up' guideposts for the President to follow.